Finance Minister Nirmala Sitharaman presented the Union Budget 2026 on Sunday, marking her ninth consecutive budget. Reported by Manjiri Chitre from NDTV.
While outlining the government’s vision, she said its “sankalp” is to prioritise the poor, underprivileged and disadvantaged sections of society.
The budget is guided by three key “kartavyas”, or responsibilities, aimed at accelerating and sustaining economic growth.
Several policy announcements made in the budget are expected to make a range of goods more affordable. In a significant move to ease healthcare costs, the government has exempted basic customs duty on 17 essential cancer drugs and medicines, providing targeted relief to cancer patients.
Customs duty on imports for nuclear power projects has also been waived until 2035.
However, the budget offered little relief to income tax payers, many of whom were hoping for tax rebates or changes in the standard deduction.
What gets cheaper?
Overseas tourism packages
Foreign education
Cancer drugs
Alcoholic liquor scrap and certain minerals
Footwear
Energy transition equipment
Leather goods
Microwave ovens
TV equipment
Cameras
Video games' manufacturing parts
Imports of goods for nuclear power projects till 2035
What gets costlier?
Income tax misreporting - Penalty equal to 100 per cent of the tax amount
Non-disclosure of movable assets
Stock options and futures trading
Coal
Coffee and vending machines
ISSUE
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